Everything You Need to Know About a Sales Battle Card
In a transitional world, brands are defined by the content they create and understanding what content is resonating with your competition is critical to the success of your business. Moreover, having a solid understanding of your competitors and how you differentiate yourself and your business paves the way to success. Being cognizant of your similarities is very important, especially when it comes to your marketing strategy and your consumers. This is where competitive intelligence helps. It acts as a key to sound market research and helps identify your niche. Competitive intelligence enables you to fine tune your content on what works for your market based on the successes and failures of your competitor’s content. Furthermore, it provides insights and intelligence on what is needed to thrive in the ever-changing world in which we work and live. In this article, we have talked about some of the effective ways competitive intelligence can drive your marketing strategy and boost your ROI.
How can competitive intelligence drive your marketing strategy?
#1. Competitive intelligence helps in analyzing the content that resonates
If there are too many players in your marketplace, there is a lot of information that you can tap into to create a solid marketing strategy. Competitive intelligence helps you to identify what works for your target market. It helps in researching your content and makes your experiment more focused and the learning curve less steep. It also aids in unveiling the content that drives the most engagement. This way you can design your marketing campaign better.
#2. Competitive intelligence aids in examining the pricing that adds value
Competitive intelligence helps you understand the pricing regime in your industry which allows you to deliberately pitch yourself as a credible alternative. By knowing what the top players in your industry charge vs their services vs customer loyalty, you can gain actionable insights into what the market values are and their existing business models.
#3. Competitive intelligence assists in formulating sales strategy that works
Sales strategy is perhaps the most crucial aspect to the success of any business. Competitor intelligence helps you to understand what your competitors are offering. This further paves the smooth way of engagement with the existing customers in your industry. This is also sometimes called a competitor displacement strategy. Acquiring new customers will also be easier if you spend time studying the successes and failures of your competitors.
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A thorough market analysis is the cornerstone of success for any marketing campaign or expansion efforts made by a company. Resorting to a bleak alternative of ‘guesswork’ or intuition often proves to have adverse effects. The first step in a b2b market analysis is to identify the market size. When the b2b market size is identified, companies can easily determine how to invest in R&D budget for the year.
What is b2b market size?
B2B market size refers to the number of individual companies in a market who are potential buyers or sellers of a product or service. In fact, market size is a key component of strategic marketing planning. Market size is a measurement of the total volume (number of buyers) of a given market. Market size is typically depicted in terms of total people or potential sales volume. It is a quantified value of a designated target.
Importance of b2b market size analysis
Having a clear-cut idea of the size of the target market allows companies to fully assess opportunities and accurately plan an approach for investments more wisely. However, a market size calculation alone is not the only factor to be considered while making an investment decision; other research inputs on the strengths and weaknesses, of the competition, anticipated profit margins and return on capital are essential.
Strategies to get your market size formula right
Every researcher aims to attain the maximum accuracy at the lowest cost possible. By being explicit about the facts and assumptions used to generate a market size estimate, we can identify critical factors that need to be addressed in downstream development business planning activities. Let’s take a look at some of the key steps involved in determining the market size of your business:
Adopt a top-down approach
Most businesses start determining the size of the market using a top-down approach. In this technique, companies begin by researching the total market for their product or service. Then a reasonable estimate of their portion of that market is formed, which becomes their available market. Thorough research of the market, the industry, and competitors are the key to accurate estimation. This also involves getting access to and evaluating the figures from various government and trade associations. The market size data is often accurately recorded by government publications. Researchers can also begin by identifying any trade associations, which could be a repository for sales or production statistics.
Transportation is one of the world’s largest industries. The services offered by the companies in this sector range from taxis to trucks, airplanes, trains, courier services, ships, barges, warehouses, and logistics. The transportation sector is now increasingly relying on artificial intelligence and robotics in the form of self-driving cars, trucks, and delivery vehicles. The growth of the global logistics services industry is directly related to the development of international trade flow and the current economic environment. North America and the Asia Pacific are known to be the most attractive markets for logistics services, especially when it comes to contract services such as third-party logistics. Additionally, intra-regional trade in developing markets is becoming important, especially in the Asia Pacific, and this, combined with high GDP rates, is expected to boost the growth of the logistics services industry.
Some of the other key factors influencing the growth of the transportation industry includes :
- Improved Customer Service: Today, customers want full transparency into where their delivery is at all times. Moreover, customer expectations have increased, and their willingness to pay for fast shipping has decreased.
- Technology Strategy and Implementation: While the logistics services industry supports and understands the benefits of the latest technologies, some questions persist as to how they will pay for it and who will help devise the improvements.
As a result, logistics services firms are leveraging the use of marketing strategy solutions to improve their position in the market. Marketing strategy solutions help firms within the logistics services space to address the requirements of the customer and accordingly devise new strategies to market the offerings and improve customer service.
The Business Challenge
- The Client: Logistics services company
The client, a leading logistics services provider with business operations spread across the globe, wanted to ensure that the services offered to meet the demands of the customers and gain insights into ways to develop profitable long-term relationships with them. Additionally, the client wanted to refine their marketing activities and devise an effective marketing strategy to attract new customers.
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To help the client improve their marketing campaigns, the market strategy experts at Infiniti carried out extensive interviews and discussions with leading stakeholders within the logistics services space. The experts also compiled information from a wide array of secondary sources such as paid industry databases, trade shows, company presentations, and industry forums.
The Solution Benefits and the Business Impact
The marketing strategy solution provided by Infiniti helped the client develop a robust marketing campaign that resonated with the target audience. The client also gained insights into ways to position the product in the marketplace and generate a better ROI. The engagement also helped the client devise a marketing mix to differentiate the offerings with that of the competitors within the logistics services space.
The Internet of Things allows devices to communicate with each other within an existing internet infrastructure without human intervention. Its application in the future of logistics services is expected to decrease waste, increase speed, and reduce overall costs.
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In recent years, there has been an increase in the spending on healthcare services and stakeholders in the healthcare industry are facing the need for improved technologies and operational efficiency to address the determinants of health. Typically, the global healthcare industry consists of segments including medical devices, pharmaceuticals, and medical imaging. Healthcare industry providers are also facing the need for deploying advanced healthcare delivery models to meet the relentless demand among end-users owing to the recent shift from a volume-based to a value-based environment.
Although the healthcare industry is witnessing promising growth due to the introduction of digital technology as a part of the healthcare system, there are a few factors that are expected to influence the growth of the industry. They are:
- Innovations: Organizations in the healthcare industry space are increasing their focus on offering advanced medical assistance while compromising on the costs. To address such concerns, leading organizations must rely on robust marketing strategies, R&D, and innovations to improve healthcare outcomes.
- Regulatory compliance: With the increasing availability of counterfeit products, it becomes essential for the government authorities and companies in the healthcare industry to go beyond the standard compliance and ensure the implementation of proper regulations before meeting the target requirements.
Such factors are forcing firms within the healthcare industry to leverage the use of marketing strategy solutions. Marketing strategy solutions help companies in efficiently addressing customer requirements and accordingly devise new strategies to market the product and service offerings. These solutions also help companies increase their focus on identifying and analyzing the primary market and secondary market and evaluating the competition.
The Business Challenge
- The Client: Healthcare industry firm
- Area of Engagement: Marketing strategy
The client, a firm in the healthcare industry with business operations spread across the globe, wanted to ensure that their offerings meet the demands of the customer and gain actionable insights into ways to achieve profitable long-term relationships with them. They also wanted to refine their marketing activities and develop a robust marketing strategy to attract new customer segments.
Want more information about our marketing strategy?
To help the client improve their marketing campaigns and provide personalized brand experiences to their customers, the marketing strategy specialists at Infiniti carried out extensive interviews and discussions with leading stakeholders within the healthcare industry. Additionally, the specialists also compiled information from a wide array of secondary sources such as paid industry databases, trade shows, company presentations, and industry forums.
The Solution Benefits and the Business Impact
The client gained actionable insights into the ways to position their product in the market and generate a better return on the investment with the help of the marketing strategy solution provided by Infiniti. The healthcare industry client also developed a robust marketing campaign that resonated with the target audience. Additionally, the healthcare provider developed a marketing mix to differentiate the product and service offerings from that of the competitors within the healthcare industry.
The “Internet of Things” is expected to connect devices that can support predictive medicine and solutions that link a patient’s wellness to their lifestyle. Additionally, with data becoming more accessible, firms have started to connect the new technology to patient experience.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the healthcare industry
No other industry touches as many technology-related business sectors as the telecommunication industry, which, by definition, includes not only the traditional areas of long-distance and local telephone service, but also advanced technology-based services including the internet, wireless communications, and fiber-optics and satellites.
The telecommunication industry includes companies that make communication possible on a global scale, through the phone or the Internet. These companies create the set-up that allows data to be sent anywhere in the world. The largest companies in the industry are internet service providers wireless operators, cable companies, and satellite companies. The global telecommunication industry is mainly driven by the ongoing technological developments and innovations to offer a wide range of facilities at low-cost margins. Additionally, due to the emergence of the internet over the past couple of decades, the telecommunication industry has proliferated and is now expected to grow further in the coming years.
However, certain factors are expected to pose a challenge to the growth of the telecommunication industry, even though the industry is witnessing promising growth. Some of these factors include:
- Innovations: Due to the relentless growth in innovations, firms within the telecommunication industry space are under pressure to develop a platform that supports the latest technology. Additionally, with the integration of IoT services, connecting devices have become more agile and seamless.
- Increasing competition: Over the past decade, there has been a considerable increase in the competition among over the top (OTT) services providers. Additionally, according to a recent research report, it is estimated that approximately 2.5 billion people worldwide use messaging apps, which is further increasing the level of competition.
These factors are compelling firms within the telecommunication industry space to leverage the use of robust marketing strategy solutions. Marketing strategy helps companies increase their focus on identifying and analyzing the primary market and the secondary market and evaluate the competition. Additionally, the marketing strategy solutions offered by Infiniti Research help firms address the customer requirements and devise new strategies to market the offerings.
The Business Challenge
The client, a leading telecommunication industry player with business operations spread across the globe, wanted to refine their marketing activities and develop a marketing strategy to attract new customers. The client wanted to leverage the use of marketing strategy to change customer perceptions and demands. They also wanted to ensure that the product and service offerings meet the customer demands and gain insights into ways to develop profitable long-term relationships with the customers.
Want more information about our marketing strategy?
The marketing strategy specialists at Infiniti carried out extensive interviews and discussions with leading stakeholders within the telecommunication industry to help the client improve their marketing campaigns. The specialists also compiled information across a wide array of secondary sources such as paid industry databases, trade shows, company presentations, and industry forums to provide the client’s customers personalized brand experiences.
Solution Benefits and Business Impact
With the help of the marketing strategy solutions provided by Infiniti, the client was able to develop a robust marketing campaign that resonated with the target audience. The engagement also helped the client gain insights into ways to position the product in the marketplace and generate a better return on the investments. The client also gained actionable insights into the unique selling points and fix a right price for the products and services offered. Furthermore, the client developed a marketing mix to differentiate the product and service offerings with that of the competitors within the telecommunication industry.
Telecommunications is said to be one of the fast-paced industries, and has witnessed radical overnight changes due to technology advancements. And as the end of this decade approaches, it is expected that the year 2020 will carry new challenges as well as massive opportunities for the telecommunications industry.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the telecommunication industry
Demand trends for RFID printers or encoders
The constant efforts to improve the supply chain and enhance data security systems is propelling the adoption of real-time location systems (RTLS) technologies across different business processes. The market for RFID printers and encoders are primarily driven by the implementation of smart labels that integrate both barcode and RFID technologies. These devices have applications in the deployment, development, and management of organizational activities, which promotes accuracy, efficiency, and connectivity through these innovative solutions. The demand for easy to use, better storage capacity, and affordable price ranges of RFID devices across the healthcare, logistics, manufacturing, asset management, administration, automotive, security, and retail industries are expected to increase over the next few years. The recent market intelligence study by Infiniti offers an in-depth understanding of the RFID technology and provide valuable strategic insights to companies. The study also offers a comprehensive competitive assessment and market analysis to improve revenues.
The emergence of hybrid RFID systems will revolutionize business operations across different industries. The active tags are used for tracking high-value, large items in real time and tracking large-volume, low-cost items in the healthcare and industrial sectors. The advent of low-energy Bluetooth tags will help companies to reduce the cost of operations while maintaining real-time tracking of products. These compact systems can be integrated with smartphones and Wi-Fi systems that ensure remote connectivity.
Growth of smart factories
The growing popularity of smart factories is augmenting the growth of the RFID technology market. These factories are designed to ensure smooth functioning of complex processes by using innovative tools such as RTLS that use advanced sensors to identify the location of products. The implementation of RFID tags increases the quality of the process, help reduces costs through automation, and manage product customization through error proofing. Leading vendors are investing in smart factories to enhance manufacturing and production efficiencies.
Cloud-based RFID solutions
The integration of cloud and RFID platforms will eliminate the initial procurement cost of servers across industries. These solutions are used for inventory management, asset management, data filtering, data processing, inventory services, data storage, and SCM. The introduction of cloud-based RFID platforms is cost-effective and secure systems against data threats. Moreover, these are the best tool for inventory management, which offers around 90% accuracy in stock management and reduces out-of-stocks by almost 80%.
Solutions and recommendations
The market intelligence team at Infiniti Research analyze the penetration level of RFID printers across the target regions and growth potential of these devices in the market over the next few years. Some of the solutions offered are listed below:
- Offer valuable insights into the competitive landscape and the growth potential of the RFID printers and encoder market
- Provide breakdown of the market scenario, determining the scope for market entry across different low-penetrated regions
- Identify opportunities to tap potential markets
- Map high probability or high impact market trends
- Offer a detailed characterization of the current competitive landscape
Read our comprehensive case study on market intelligence study on RFID printers
Other case studies you might be interested in:
- Market Analysis and Sourcing Intelligence Helps an Industrial Equipment Manufacturing Company
- Market Intelligence Study Helps a Leading Manufacturing Company Assess the Market Landscape
- Market Research and Competitive Intelligence Study Helps a Global Engineering Company
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